Lufkin Industries, Inc. Issues Q3 2012 Guidance Below Analysts' Estimates; Lowers High End Of Prior FY 2012 Revenue Guidance To A Range Below Analysts' Estimates; Lowers FY 2012 EPS Guidance

Lufkin Industries, Inc. announced that for the third quarter of 2012, it expects revenues to be in the range of $330-$340 million and net earnings in the range $0.70-$0.80 per diluted share (EPS). For fiscal 2012, it expects consolidated revenues to range between $1.25-$1.27 billion and earnings to be between $3.00-$3.20 per diluted share (EPS), before adjusting for special items. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $341 million and EPS of $1.09 for the third quarter of 2012; revenue of $1.28 billion and EPS of $3.74 for fiscal 2012.